SECTIONS 720.610-720.660 - California Statutes

CODE OF CIVIL PROCEDURE

SECTION 720.610-720.660

720.610. A third person may give an undertaking to release property
pursuant to this chapter in the following cases:
(a) Where the third person claims ownership or the right to
possession of real property that has been levied upon under a writ of
attachment or a writ of execution.
(b) Where the third person claims ownership or the right to
possession of personal property that has been levied upon under a
writ of attachment, a writ of execution, or a writ of sale.
(c) Where the third person claims a security interest in or a lien
on personal property that has been levied upon under a writ of
attachment, a writ of execution, or a writ of sale.

720.620. The third person shall file the undertaking to release
property with the levying officer, together with two copies of the
undertaking:
(a) At the time the third person files a third-party claim
pursuant to Chapter 2 (commencing with Section 720.110) or Chapter 3
(commencing with Section 720.210).
(b) If the third person has previously filed a third-party claim
to the property, at any time before the levying officer does any of
the following:
(1) Sells the property.
(2) Delivers possession of the property to the creditor.
(3) Pays proceeds of collection to the creditor.

720.630. (a) The undertaking to release property shall contain a
description of the property to be released and shall describe the
interest of the third person.
(b) The undertaking shall be made in favor of the creditor and
shall provide that, if the debtor is finally adjudged to have an
interest in the property levied upon, the third person shall pay to
the creditor the lesser of the following:
(1) The amount required to satisfy the judgment against the debtor
of the creditor who had the lien on the property.
(2) A sum equal to the market value of the debtor's interest in
the property levied upon.
(c) Except as provided in subdivision (d) and unless the third
person elects to file an undertaking in a larger amount, the amount
of the undertaking shall be the lesser of the following amounts:
(1) Twice the market value of the property sought to be released.
(2) Twice the amount of the creditor's lien on the property sought
to be released.
(d) If the creditor has given an undertaking in response to the
third person's claim regarding the property pursuant to Section
720.160 or 720.260, the third person's undertaking shall be in the
amount of the creditor's undertaking.

720.640. (a) If the undertaking to release property is filed with
the levying officer at the time the third-party claim is filed, the
levying officer shall serve a copy of the undertaking on the creditor
and on the debtor with the notice of the filing of the third-party
claim served pursuant to Section 720.140 or 720.240.
(b) If the undertaking to release property is filed with the
levying officer after the third-party claim is filed, not later than
five days after the undertaking is filed, the levying officer shall
serve a copy of the undertaking on the creditor and on the debtor
with a notice that the property will be released unless, within the
time allowed as specified in the notice, the creditor objects to the
undertaking. Service shall be made personally or by mail.

720.650. The third person's undertaking becomes effective when the
property described therein is released pursuant to this chapter.

720.660. The levying officer shall release the property described
in the third person's undertaking in the manner provided by Section
720.170 promptly after the expiration of the time allowed for
objecting to the undertaking, unless the creditor has objected to the
undertaking, and filed with the levying officer a copy of the notice
of motion as required by Section 720.760, prior to the expiration of
that time.